Microsoft announces strategic investment in Singapore’s Grab

Microsoft Corp. MSFT, -1.14% on Monday announced a strategic investment in Singapore-based ride-hailing company Grab. The five-year deal will see the companies collaborate on technologies including big data, artificial intelligence and mobility solutions, Microsoft said in a statement. The sum of the investment was not announced. “Our partnership with Grab opens up new opportunities to innovate in both a rapidly evolving industry and growth region,” Microsoft Executive Vice President Peggy Johnson said in a statement. Grab operates in eight Southweast Asian countries, and also offers food and package delivery, mobile payments and financial services.

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